Since 1973, Cumberland Advisors has been a trusted source for market expertise, personal service, and individual and institutional money management. We are an independent, fee-for-service money management firm managing over $3 billion in assets.
2019 saw bond yields turn around from their climb in 2018 and move lower. Since the Federal Reserve changed their language last December to being accommodative and data-driven, we have seen yields across the board come down a lot. There is no question that this drop in yields was driven, in large part, by what […]
Excerpt from “The Bond Buyer”… Shocking surge: Municipal bonds strength based on several fluid factors By Chip Barnett July 01 2019 With under a $1 billion of bonds and notes selling this week, municipal bond investors were looking beyond the week’s offerings — to fundamentals and performance. So far this year, muni yields have declined […]
Excerpt from “The Bond Buyer”… Municipal calendar grows to $7B as the summer reinvestment season arrives By Christine Albano & Chip Barnett May 31 2019 The food fight among municipal investors is expected to reach new heights with the arrival of the summer reinvestment season, municipal managers and observers said. Some say it will be […]
Excerpt from… How Federal Tax Reform Has Impacted Real Estate The short-term effects haven’t been as bad as predicted, but local governments are still worried about the long term. by Liz Farmer | May 20, 2019 SALT change has driven some people to make moves and may be slowing some markets. A couple in Old […]
Excerpt from… Upcoming slate should see ‘plenty of demand’ By Aaron Weitzman Christine Albano Published April 18 2019 Next week’s calendar should benefit from timing and availability of paper coming on the heels of both the income tax deadline and the holiday-shortened week. Munis will be very much on the minds of lots of people […]
Excerpt from bloomberg.com article, SALT-Fueled Rally in Muni Market Faces Tax-Day Test By Amanda Albright April 1, 2019 The rally in the $3.8 trillion municipal-bond market is about to face a major tax-season test. All year, analysts have credited the $10,000 cap on state and local tax deductions for driving a record-setting amount of cash […]
Excerpt from the Sarasota Herald Tribune’s article, Mousseau: The SALT (state and local taxes) conundrum There have been headlines recently describing the drop in state tax revenues versus forecasts for some of the higher-tax states such as California, New York, and New Jersey. Part of the falloff is due to an exodus of higher-income residents […]
Declining home prices aren’t necessarily a bad thing, Mousseau says. “I think what you’ll see is a realignment of house prices,” he says. “The idea that house prices can go up 6 or 7 percent a year — I think that’s going to go away.”
Excerpt from… Deals pour in to slightly firmer market By Aaron Weitzman Christine Albano Published January 15 2019, 1:50pm EST New deals were rolling in, with timing benefiting issuers as the market firmed. Strong demand will likely lead to oversubscriptions on the Pennsylvania Housing Finance Authority deal after a significant portion of the longer maturities […]
Excerpt from… Climate change, a rising tide affecting the muni market By Sarah Wynn Published January 08 2019, 12:45pm EST WASHINGTON — Portfolio managers are feeling the heat when it comes to investing in bonds that could potentially be affected by climate change. Climate change has long been a point of political and social contention, […]
